Gold news

 [Music] [Music] I'm Charlotte McLoud with investing.com and here today with me is Tom kandra on the candra report thank you so much for being here great to catch up with you Charlotte as always thank you of course and it's been I think we last had our catch up this same event so a year ago I wonder we're on we're in the second day of pdac right now I'm I'm guessing you've had a chance to take a look around see some companies what is the atmosphere feeling like to you what are you seeing on the floor

well you know on the floor and and from the executives you know they're always looking for a chance to tell their story and uh I'd have to say in the gold space which is probably 65 70% of this uh Pac Prospectors developers uh uh Association uh show the gold space is um is looking darn good I mean right now the gold price is uh breaking above 2110 215 every time uh every time you look at it it's a little higher and um you know there's always been a lot of talk about why the gold equities and and the metals

equities as a class as an inves class have suffered for at least the last two years uh and longer you know so um while the physical goals uh led by go um mostly have you know the physical has done great and uh a terrific uh advertisement for some of the physical trusts that that own goal and uh it's also an affirmation that gold uh is an investment class that at some point people will have to embrace so the the mood is good you know there are a lot of other companies out there copper uh uh Platinum uranium has been

on a street like no other the past three years three months uh so I would say it's a it's good it's not a record attendance but it's a darn good attendance and um you know the uh the number of booths and companies presenting is probably close to a record because you're seeing you know a lot of companies even though we've had record core uh Finance say in 2023 and 2024 worldwide but especially in North America um they still have a little money to spend on marketing not a lot

but a little so you are see some of these conferences especially this uh the mother of all exploration and medals investment conferences and trade um doing well I think let's let's talk a little bit more about gold because you mentioned I think the question that everybody is talking about as they see gold very high gold stocks not not matching that so what for you cuz I I was I felt like I was hearing for quite a while when we get to 2,000 and we can stay around 2,000 for some time that's

when we'll see interest and the gold stocks may move but now we've we've managed to do that at least for for some months and and still no move really so what do you think is is the trigger there for those Gold stock well the trigger let uh real briefly let's just talk about you know maybe one or two quick reasons why you've seen assets under management like gold specialist funds crash I mean in 2023 when it comes to the UK Canada and the US so any specialst gold fund whether it's a hedge

fund or a traditional mutual fund has seen its AUM its assets on the management shrink by a pretty decent percentage I mean I I you know I have the figures I won't give them to you here but uh you know they're uh they're suffering and that's because they're getting redemptions and those redemptions are also occurring among the North American ETFs and the ones in the west like in the UK and you know when people say I'm selling my ETFs and ETFs now control 50% of all trading passive

investing as they call it right uh they have to sell their uh gold stocks and other metals equities one and two you know meanwhile in in the East Japan China assets under management for uh gold gold ETFs and gold money market funds have have risen you know you're seeing that rise 2023 here in the first two months of 2024 uh and so what does that say East versus West right the East loves the physical the East is still buying their own listed gold stops right uh Japan Shanghai um Hong Kong of course um

slightly different story in Australia but Australia is still suffering like the West when it comes to the equities B at a record price in every currency and getting close to a record here in US currency and but definitely at a record in C I can tell you that uh so now what's the trigger I think the trigger is like all that money sitting on the sidelines obviously one there are there is something like6 trillion US money market funds 6 trillion uh in Japan retail there's $7 trillion that's money that has to to

find a home where does that what home what investment class does that go to it well been a lot of talk about you know Bitcoin and because that's a valid investment class especially now with nine uh approved ETFs and uh doing tremendous volume I mean I own a little of the Fidelity uh Bitcoin trust and um just to keep an eye on it it's up 40% in uh five weeks or something like that uh uh crazy but as an investment class people love momentum when we talk about momentum you know we you know we we're at this

um uh on my panel and on a couple of other panels yesterday at the investment Forum here in uh at Pac you know there are a lot of questions about the Millennials Young Generation right your generation uh Generation Y Generation Z and uh what do they want well look they want what 80% of all investors want they want momentum they you know like our son he won't you know I can't get him to buy anything if it's going down in price right so that's like the whole entire world it's not just young investors

right 80% of the world's momentum 10 to 15% contrarium 5% clueless and uh you know when when we see more momentum as we're seeing in the physical price uh that will translate it's already started translating into the gold equities it's a stealth gold rally as my friend Simon Cat in London says and that we uh uh just transmitted over the C report uh uh this weekend and a stealth rally means uh before you know it all the gold indexes the X the vanac you know the GDX the gdxj you know right now they're up 15%

probably in the past two weeks and there are some individual examples of uh Gap bumps okay those those some very good points on what's going on with gold thank you for that and just because you mentioned momentum I think if you want momentum earlier in the conversation you mentioned uranium and how well that's been doing and I know that it has gone into a little bit of a pause or a consolidation right now but maybe if we could get your thoughts on uranium because I don't uh I think the question

is how much further they have to go after seeing all this momentum well I own 5year AG stocks it's had a a terrific 3 years uh 3 months 3 weeks last week and the week before yes we a little bit of a pause because the spot the spot your 8 price pause we had some holidays there but I can tell you the utilities are still looking for the short-ended utilities that need nuclear to to you know that need uranium to heat up their their plants their nuclear plants especially uh are still caught short-handed there aren't there isn't

enough uranium in the world all the projections from The Bigs including camoo and um and KF in uh in Kazakhstan uh you know looking for shortages because of uh uh shortages or reduced guidance going out into 2024 2025 because of sulfuric acid uh shortages get sulfuric acid used to pull some uranium out of the ground it's very important uh it's being used now for uh medicine and other things um I would say though that the equities are still um soaring including uh today uh you know yesterday took a little bit of a pause

you look at the UR that's the equities index but you know take keep an eye on the physical trusts yellow cake in London the Sprat physical uranium trust um it's been a very broad rally and uh you know I just ran it to Janet Sheriff like on at 15 minutes AO go from uh Janet and Bill run a number of compan three uh companies two uranium companies which I happened to own one is a a brand new producer in South Texas Energy Fuels and uh she said you know they're going to be publishing their not only their

production numbers their new production numbers and but uh uh this week but they'll also be uh showing guidance and I said well who are the buyers of the buyers still spot Market driven uh she said well it's a little complicated but yes you know you B you seeing the buyers are still utilities and remember with uranium you have spot prices and contract prices contract prices went three four five years and and spot prices are just as they say and with spot having gone over $100 in uh a pound right that's

H three four years ago five years ago you know we're talking in the 20s and 30s so we've seen these monstrous moves and some of the Monstrous moves by the equities including in of course the producers have been terrific and the spot stockpiled sellers of uranium like uh uh Energy Fuels I think have been terrific but the Explorers LED probably by canalas uranium I now can Alaska's fines in the FASA Basin just you know gapping up like 60% one day so there's you know a lot of lot of opportunity

with all uh depressed Commodities equities or metals equities uranium don't chase it FR if you're in it you know for me I I have to stay in the five that that I own and that I I try to cover fical andry report okay another one that I wanted to ask you about is copper because when I I think you know uranium is doing well but people are starting to wonder okay what's what's the next uranium and I've heard some people mention copper and I wanted to put that to you and ask you if

that makes sense to you cuz I know you follow copper especially IV home Minds is your very large holding for you so largest holding Ivan home mins in DRC Congo the copper comes up you know probably for every two times that go is mentioned out there on the floor or elsewhere or in conversations uh uh coppers mentioned once right you know people don't understand I always tell our uh you know our readers that I think copper should be a CL is a precious metal because it's so precious to world the global growth

but you know the price of copper right now 35 387 $387 a a pound right has um I guess the word is vacillated it's just been you know it's the four it comes back down a little and what you're seeing there is you know on the one side the battery metal story and the green story Powers copper on the other side well concerns about Japan Dr State bubble and economic growth you know it's like the scales of Justice China weighs it down a little so you the see this up and down yet the cop

the uh the cost conscious copper producers and the one that care you know the ones that I think that care about um um uh doing it the right way in a uh not just for the communities they serve but also uh uh trying to keep uh you know Carbon expenditures down um they're close to New highs and of course the example I always use this and it is our largest holding and I held it since 2003 when is a private company Ian know energy in the DRC County Val right and uh now eventually they'll be the uh this

the third second or third largest copper producer in the world but right now they're their deposits in the condo and in the um you know the central Africa copper belt the Congo copper belt the grades are outstanding probably the finest strongest phze you'll ever see 6% 8% uh uh 10% phrase so you know there's there will be more speculation I think what what hurt copper was uh um everyone knows this Panama you know Panama slapping the hands of uh of uh you know El mil C and uh first Quantum getting

hit yet you know 40% hit for first Quantum on its equity was an buying opportunity so you'll see some copper mergers and you'll see some uh some copper uh producers that don't have enough copper reserves you'll see this old to starting to buy this taking advantage of the depressed prices in some companies not Ivan home mins they're as I said a 13 14 billion doll us company um um or you know taking advantage of proba the K price okay that will be that will be a trend to watch I also I wanted to follow up on

two more metad with you and I'm I'm going to group them together cuz I think the situation is similar you can tell me if if that sounds right or not but we've talked in the past about silver and platinum and these are metals where we have these really big deficits and the price is pretty range bound so I wanted to get your updated dot on Silver and platinum yeah I've never been uh a terrific uh B on Silver but it's part of the part of a big part of mining lots of gold miners um seab bridge for example

uh its reserves and resources but your enormous uh uh have silver in them and um so on Silver I'd say look when historically it's close to that uh low on the ratio right you know gold moves like this silver moves like this it's I don't know what the ratio is now 80 one 85 to1 you know it's it's terrific but when we see great days like like today like last week uh like the occasional good day in the past two years where uh the gold price is moving this you know the silver price and the silver equities

silver producers especially in you know in Mexico and Canada uh throughout uh South America and elsewhere and in the US of course Nevada it used to be called The Silver State um they move 6 8% a day and uh so I'm happy to see that I own some very depressed silver uh explorers now you know the safe beted here is always stick with the producers when it comes to platinum you know I'm a big believer once again in all physical metal if you can own the copper cathode own it if you can own truly uh talking

about gold in the ground on on uh I just see over there uh the CEO westal mining Sandy mcve and when it comes to oing physical of course there there are the physical trusts right I own the aine Platinum trust you know I own uh I own trusts that own physical copper I stay away from I own the Sprout gold and silver physical trust and uh you know I own one uranium trust it's very important to own the physical Platinum right now is is uh if if you ask me it's 20 times it's at least 10 times harder

finding platinum in the ground as it is GL I own um I own uh one company once again with a tremendous amount of platinum that will start coming to production next year 2025 maybe even 2024 that's once again Ivan H mines at the plot wreath in South Africa into the property at least three times there are some uh more speculative but reliable producers some doing uh transactions in Saudi Arabia and that includes Platinum Group Metals right they've been around also on the pot roof so plantinum it

it's great it's cheap uh you know you can get some of these uh uh you can get all these trusts mostly on the London or on the New York Stock Exchange and uh whether it's uh you know the aine the sprats yellow cake uh it's it's terrific opportunities it's it's not a uh it's a generational move as uh both Adrien day and Rick Ru uh told us yesterday a generational move the medals equities let one hopes as a continues gold okay thank you for going over those medals as well and as as we're wrapping

up I always find that you you take a pretty Brad look at the comod space you you look at all kinds of different things even even beyond what we've already talked about so do you have any further ideas things that you're looking at right now that are of interest to in 2024 well yeah when it comes to cheap um you know I think you should search out uh you know the battery metals that mostly get ignored like Cobalt right Cobalt is is is terrific I'm not going to give you any suggestions there

because if I did I'd have to mention Ivan elmes again because the DRC is the you know is the largest producer of Cobalts that's important uh lithium as we see has has kind of blown up in everyone's face I'm I've never been a a big lithium fan but there are some uh good lithium exploration companies out there and I think uh let's take Quebec Quebec has made a a commitment to uh becoming a a a a formidable lithium processor uh so you're going to see a number of uh you know hopefully uh

continued oh uh advances we're seeing uh Quebec getting very involved in graphite uh and graphite processing right you happen to mention new M graphite which I followed forever and I've been to their deposit uh uh north of Montreal uh free time M wi and they have a uh processing plant um on St Lawrence River that uh will be producing their own graphite uh for an aonic for uh uh is a general electric and uh uh had aonic they have a relationship with uh with subishi and uh I'm sure you'll see a lot of the uh uh

the EV manufacturers and the you know let's face it the uh the alloy uh steel alloy manufacturers graphite's important there uh make more and more deals with valid graph future graphite producers they're in uh they're in Brazil Southern I think there's a a Southern Star or Southern Metals uh there's um you know Northern graphite but uh the one I follow is Norther Nal M it's cheap they're all you're cheap please don't chase anything that's expensive please

on the physical when it comes to any investment class okay I think that's a great place to wrap it up I think we covered a lot of ground thank you so much for for taking the time to come by it is it is a definite pleasure to be with you and uh thank you thank thank you for keeping uh the clan report on uh you know in front of the camera once in a while thank you and once again I'm Charlotte McLoud with investing news.com and this is Tom candra with the candra [Music] report